Neodrill has signed a frame agreement with oil and gas operator Lundin Energy to provide its CAN-ductor technology for the company’s Norwegian fields.
The agreement will see Neodrill’s CAN-ductor technology installed on Lundin’s future exploration and production wells.
The deal was signed for an initial four years, with two two-year extensions, covering a potential eight-year timeframe.
According to Neodrill, the installation of a CAN-ductor can reduce environmental impact by 44 per cent and save 2-4 rig days, which aligns with Lundin’s ambitions to reduce CO2 emissions and streamline start-up operations.
“We believe this is just the beginning – oil and gas operators must adapt to use best environmental practise at all stages ,” said Neodrill CEO, Jostein Aleksanderson .
“ Our estimates suggest that if CAN technology was used for approximately 50 exploration wells, those drilled in the North Sea each year, then 25,000 metric tonnes of CO2 emissions could be saved.”
The agreement follows the deployment of the CAN-basic on Lundin’s Zulu and Lindarormen wells in the North Sea, and a CAN-ductor on the company’s Bask well in the Barents Sea.